Blockbuster trades

French President Emmanuel Macron defended a huge trade deal agreed by the European Union and four South American countries and warned against “neo-protectionism”, as farmers and environmentalists step up their resistance to the accord. The deal announced Friday by the EU and Argentina, Brazil, Paraguay and Uruguay is the largest ever struck by the European Union. It covers markets that total approximately 780 million consumers representing a quarter of global GDP. The European Union and South American trade bloc Mercosur sealed a blockbuster trade deal Friday, ending 20 years of talks over one of the world’s largest regional commercial accords, negotiators said. Macron: “A trade deal is not bad in itself” Speaking in Brussels late Tuesday (2 July), Macron defended the agreement, despite a government spokeswoman earlier saying France was not yet rushing to ratify the trade deal. He warned against what he termed “neo-protectionist” attitudes, … [Read more...] about Macron defends EU-Mercosur trade deal, as farmers protest

The European Union and South American trade bloc Mercosur sealed a blockbuster trade deal Friday (28 June), ending 20 years of talks over one of the world’s largest regional commercial accords, negotiators said. The agreement came after two decades of often tough negotiations between the EU and the countries of Mercosur – Argentina, Brazil, Paraguay and Uruguay – which had repeatedly stalled because of European farmer sensitivities over the beef market. The deal was announced as the US administration of President Donald Trump faced several bilateral disputes, including trade tensions with China and disagreements with EU countries. “I measure my words carefully when I say that this is a historical moment,” European Commission President Jean-Claude Juncker told reporters on the sidelines of the G20 in Osaka. “In the midst of international trade tensions, we are sending today a strong signal with our Mercosur partners that we stand for rules-based … [Read more...] about EU, Mercorsur reach trade deal after 20 years of talks

US President Donald Trump said trade negotiations with China were "back on track" after "excellent" talks Saturday with his Chinese counterpart Xi Jinping in which Washington agreed to hold off on new tariffs. The crunch talks on the damaging trade war between the world's top two economies came on the sidelines of a meeting of the G20 in Japan's Osaka, with all eyes on whether the pair would agree a truce. "We had a very good meeting with President Xi of China," Trump said after the talks. "I would say excellent." "We are right back on track," he added. Both sides were expected to issue official formal statements later, but Trump confirmed that Washington had committed not to impose any new tariffs on Beijing's exports and that the two sides will continue talks. "At least for the time being," Washington will not impose new tariffs or remove existing ones, Trump said at a press conference. "We will be continuing to negotiate." The outcome was likely to be seen as a win, with experts … [Read more...] about Trump, Xi agree to resume trade talks

Date created : 29/06/2019 - 09:52 The European Union and South American trade bloc Mercosur sealed a blockbuster trade deal Friday, ending 20 years of talks over one of the world's largest regional commercial accords, negotiators said. The agreement came after two decades of often tough negotiations between the EU and the countries of Mercosur -- Argentina, Brazil, Paraguay and Uruguay -- which had repeatedly stalled because of European farmer sensitivities over the beef market.The deal was announced as the US administration of President Donald Trump faced several bilateral disputes, including trade tensions with China and disagreements with EU countries. "I measure my words carefully when I say that this is a historical moment," European Commission President Jean-Claude Juncker told reporters on the sidelines of the G20 in Osaka."In the midst of international trade tensions, we are sending today a strong signal with our Mercosur partners that we stand for rules-based … [Read more...] about EU, South America sign off on historic trade deal

A blockbuster trade deal between Europe and South America remained uncertain on Thursday as key negotiators tried to clinch a breakthrough and deliver a blow against Trump-led protectionism. Ministers from the South American trade bloc known as Mercosur were locked into a second day of negotiations with top EU officials in hopes of sealing what would be one of the world's biggest regional trade deals. The EU has been in talks with the countries of Mercosur (Argentina, Brazil, Paraguay and Uruguay) for two decades, with talks stumbling repeatedly over the highly sensitive beef market, with cattle farmers in Europe furiously against any deal. "A political agreement today or tomorrow is possible... There may also be no agreement at all. It's still up in the air," said a source close to the negotiations. An EU spokeswoman told reporters there have been "constructive exchanges", but refused to comment further given the sensitivity of the talks. Anticipation of a potential deal comes amid … [Read more...] about Controversial S. America-Europe trade deal ‘up in the air’